MCX Q4 net declines 45% to Rs 27 crore

Leading commodity exchange MCX today reported a 45 per cent fall in standalone net profit to Rs 27.10 crore during the fourth quarter of the 2015-16 fiscal due to higher expenses.
The exchange had posted a net profit of Rs 49.30 crore in the same quarter of the 2014-15 fiscal.
Profits took a beating as expenses rose to Rs 47.35 crore in the quarter from Rs 31.93 crore in the same quarter of the previous fiscal, the exchange said in a BSE filing.
However, total income from the operations rose marginally to Rs 60.50 crore in January-March from Rs 58.97 crore in the year-ago period.

For the full fiscal, the company's consolidated net profit declined sharply to Rs 42.47 crore from Rs 125.76 crore in the previous year.
The exchange also said its Board has recommended a final dividend of Rs 6.50 per share for the 2015-16.
It has also co-opted Mrugank Paranjape as Director and MD and CEO of the exchange for three years effective from May 9, 2016.